Continuous Blood Glucose Monitoring Market Report 2024 - Continuous Blood Glucose Monitoring Market Growth, Segments, And Demand

"The Business Research Company recently released a comprehensive report on the Global Continuous Blood Glucose Monitoring Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The continous blood glucose monitoring market size has grown rapidly in recent years. It will grow from $8.09 billion in 2023 to $9.68 billion in 2024 at a compound annual growth rate (CAGR) of 19.7%. The growth in the historic period can be attributed to increase in diabetes prevalence, regulatory compliance, demand for remote monitoring, emerging markets, rise in healthcare spending.

The continous blood glucose monitoring market size is expected to see exponential growth in the next few years. It will grow to $20.44 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to growing aging population, rising home healthcare, telehealth expansion, rise in healthcare expenditure, rise in disposable income. Major trends in the forecast period include wearable integration, artificial intelligence and machine learning, advanced sensors and accuracy, partnerships and collaboration.

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Market Drivers and Trends:
The increase in the prevalence of diabetes is expected to propel the growth of the continuous blood glucose monitoring market going forward. Diabetes is a health disease that occurs when the blood glucose levels fluctuate in the body. Blood glucose monitoring devices can aid in the detection of trends and patterns that give a better full picture of a diabetic's condition. For instance, in July 2021 the International Diabetes Federation (IDF), a Germany-based umbrella organization of over 240 national diabetes associations stated in its IDF Diabetes Atlas 10th edition that the estimated global population of individuals living with diabetes is expected to increase to 643 million by 2030 and further to 783 million by 2045, up from approximately 537 million adults aged 20 to 79 living with diabetes in the year 2021. Therefore, the increasing prevalence of diabetes is driving the continuous blood glucose monitoring market growth going forward.

Technological advancements have emerged as a key trend gaining popularity in the continuous blood glucose monitoring market. Major companies operating in the continuous blood glucose monitoring market are focused on developing advanced technological solutions to strengthen their position in the market. For instance, in 2021, Philips, a Netherlands-based health technology company that manufactures glucose monitoring devices launched non-invasive monitors for COPD patients based on ExpiraFlow technology. The non-invasive monitors help health care professionals to detect and screen the expiratory flow limitation and can also be used in optimal home care therapy.

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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Lifescan Inc., Medtronic plc., Abbott Laboratories, GlySens Inc., Arkray, Senseonics Holdings Inc., Glysure Limited, Nemaura Medical Inc., Tandem Diabetes Care Inc., Goldsite Diagnostics Inc., AgaMatrix Inc., B. Braun Melsungen AG, Ypsomed Holding AG, Terumo Corporation, Orsense Ltd., Dexcom Inc., A. Menarini Diagnostics, Echo Therapeutics Inc., Johnson & Johnson Services Inc., Ascensia Diabetes Care Holdings AG, Insulet Corporation, Medtrum Technologies Inc., Texas Instruments Inc., Beta Bionics Inc., Bigfoot Biomedical Inc., One Drop Inc., DarioHealth Corp., MedAngel BV, GluSense Ltd., PKvitality, Nemotecnia S.A.

Continuous Blood Glucose Monitoring Market 2024 Key Insights:
• The continous blood glucose monitoring market size is expected to see exponential growth in the next few years. It will grow to $20.44 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%.
• Rising Diabetes Prevalence Fuels Growth In Continuous Blood Glucose Monitoring Market
• Technological Advancements Driving Growth In The Continuous Blood Glucose Monitoring Market
• North America was the largest region in the continuous blood glucose monitoring market in 2023

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